AWC Economy Desk
ABUJA – In a decisive move to overhaul Nigeria’s fiscal landscape, the Federal Government has inaugurated the maiden Weekly Meeting of Revenue Collection Agencies. This initiative marks a strategic shift toward aggressive Domestic Resource Mobilization (DRM) under President Bola Ahmed Tinubu’s Renewed Hope Agenda.
The Honourable Minister of State for Finance, Dr. Doris Uzoka-Anite, who presided over the meeting, characterized the weekly sessions as a “nerve center” for economic sustainability. The primary objective is to diversify Nigeria’s revenue base by expanding non-oil income and fortifying the nation’s fiscal resilience against global shocks.
The Roadmap to 2030
The Federal Government has set an ambitious target to leapfrog Nigeria’s revenue-to-GDP ratio from 12.5% to 18% by the year 2030. To achieve this, the Ministry outlined a four-pronged strategy:
* Policy Innovation: Implementing enabling tax and non-tax policies to stimulate growth.
* Modernization: Digitalizing and streamlining revenue administration processes.
* Real-Time Monitoring: Deploying performance management systems to track revenue flow instantly.
* Strategic Goal Setting: Establishing clear, measurable benchmarks for every collection agency.
Strengthening the Social Contract
Dr. Uzoka-Anite emphasized that the drive for increased revenue is not merely about collection, but about accountability and trust.
“Effective revenue mobilization must be anchored on accountability, fairness, and improved service delivery. Rebuilding trust between the government and citizens is critical to strengthening the social contract and improving tax morale across the country.”
By fostering transparency, the government aims to encourage voluntary compliance and ensure that generated resources are efficiently utilized for national development. This weekly collaborative framework is expected to break down silos between agencies and create a unified front in the quest for economic self-sufficiency.
